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2016-10-06 07:01:15

XRX

Xerox

$9.97

0.13 (1.32%)

07:01

10/06/16

10/06

07:01

10/06/16

07:01

Xerox unveils global brand identity of Conduent Incorporated

Xerox announced the latest milestone in its plan to separate into two independent, publicly-traded companies - unveiling the global brand identity of Conduent Incorporated, a business process services company. With approximately $7 billion in 2015 revenue and 93,000 employees worldwide, Conduent will be a Fortune 500 scale business process services company with expertise in transaction-intensive processing, analytics and automation. Conduent expects to be separated from Xerox by year-end 2016. The transaction is subject to final approval by Xerox's board of directors, among other conditions.

Brean Capital analyst Ananda Baruah downgraded Xerox to Hold following the company's Q1 results. Xerox reported weaker than expected Printer operating margin dis-synergies from the upcoming split could be weighted to the second half of 2016, Baruah tells investors in a post-earnings research note.

09/13/16

RHCO

09/13/16INITIATIONTarget $13RHCOBuy

Xerox initiated with a Buy at SunTrust

SunTrust analyst Frank Atkins initiated Xerox with a Buy and a $13 price target saying value creation potential of Xerox's plan to split the company is underappreciated. The analyst said the split will improve the competitive position in each of the parts, BPO and Document Technology, and he is particular positive on the outlook for the BPO business Conduent.

09/13/16

09/13/16INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Chevron (CVX) initiated with an Outperform at BMO Capital. 2. AB InBev (BUD) initiated with a Buy at Jefferies. 3. Altria Group (MO) and Reynolds American (RAI) were initiated with a Buy at Citi while the firm initiated Philip Morris (PM) with a Neutral. 4. Under Armour (UA) initiated with a Neutral at Nomura. 5. Xerox (XRX) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.